Flow Traders, one of the world’s top market makers in exchange-traded products, said Tuesday it is bringing its decades of TradFi expertise to tokenized assets with the launch of 24/7 over-the-counter (OTC) liquidity.
The move arms institutional clients with a new tool, allowing them to manage risk and keep capital flowing via blockchain versions of popular traditional assets when traditional exchanges are dark on weekends and after hours.
The new offering, delivered through Flow Traders' Digital Asset OTC platform, provides proprietary, two-way pricing for tokenized money-market funds, equities and commodities, including Franklin Templeton’s BENJI and tether gold (XAUT), according to the press release shared with CoinDesk.
It means that the OTC platform will now constantly quote prices, ready to buy or sell the tokenized assets outside regular traditional market hours. The service is available immediately to permissioned counterparties, with institutions able to access liquidity via direct FIX connectivity and other standard trading interfaces.
"At Flow Traders, we have operated at the intersection of traditional and digital markets for many years, and we are pleased to launch 24/7 OTC liquidity for regulated tokenized equities and commodities for permissioned counterparties through our digital asset OTC platform," Thomas Spitz, CEO of Flow Traders, said.
The OTC liquidity aims to address a nagging problem for institutions: The inability to adjust positions during weekends or overnight sessions. This has become brutally clear in recent weeks, as Iran-Israel tensions flared over the weekends, leaving traditional trading desks empty while crypto markets churned.
The demand mainly comes from institutions that want the ability to manage exposure outside traditional market hours," Marc Jansen, co-chief trading officer at Flow Traders, told CoinDesk.
He explained that the OTC liquidity service will help large traders manage their risk better beyond market hours through tokenized equities and commodities, which are already gaining popularity on venues such as Binance, OKX, and Hyperliquid.
"All weekend long, with these markets getting pretty close to the traditional market open price as a result of that weekend price discovery. OTC liquidity helps support that activity, particularly for larger trades where public venue liquidity is still developing," he said.
According to the firm, tokenization is growing fast and the tokenized gold and silver market alone is nearing $6 billion in value, up roughly fourfold since the end of 2024.
"Liquidity providers such as Flow Traders play a critical role in ensuring that tokenized assets like XAUT can trade efficiently across venues and reach a broader set of market participants,“ said Paolo Ardoino, CEO of Tether.
The asset tokenization market is reportedly worth $3 trillion as of this year and is growing at a CAGR of 44.25% and could reach over $18 trillion by 2031, according to some estimates.
This booming market, however, demands more than just enthusiasm; it requires battle-tested expertise, and this is where Flow Traders appears to have an edge, thanks to their 20 years of experience in market-making and liquidity provisioning for global exchange-traded products.
They operate across asset classes, including ETPs, digital assets, fixed income, FX, and commodities, and ranked among the top three global market makers by ETP trading volume in 2025.
"For us, with extensive experience in the ETF markets, it’s a more familiar problem. We’ve always priced and managed risk in products when parts of the primary market are closed. That already requires using models rather than relying purely on underlying market prices and we’ve built those pricing models over time in our ETF business, and they can be extended to tokenized markets," Jansen said.
"Our role is to provide liquidity wherever the market develops," he added.
The new OTC service will expand coverage and evolve, with asset availability guided by institutional counterparty demand, ongoing regulatory developments, and the integration of supported trading venues.
Product offerings will therefore vary by jurisdiction and depend on client eligibility, with different members of the Flow Traders group providing access based on their respective regulatory statuses.
